Strategic Planning for Hungryhouse: Missions, Goals & Development

This presentation provides a comprehensive overview of strategic planning for Hungryhouse. It begins by defining the company's mission statement, objectives, and strategies for improving services and fostering innovation. The presentation then identifies key factors for strategic planning, including cost, time frame, team building, fund source analysis, risk assessment, and communication. Finally, it outlines the process for developing strategic plans, which includes issue identification, goal setting, strategic planning, team building, strategy implementation, and performance evaluation. The presentation also includes references to relevant academic sources on business strategy and international business.

Business Strategy

Contents to be included in ppt
This ppt is to present strategic planning for Hungryhouse includes following
contents as:
 1.1 Goals, objectives and missions in strategic planning for Hungryhouse
 1.2 Factors considered for strategic planning
 1.3 Methods to develop strategic plans

1.1 Goals, objectives and missions in strategic planning for
Hungryhouse
As per the given case scenario, it is recognised that Hungryhouse is planning for
improving its services and creating innovations in its food and accommodation
services. Therefore, allocating adequate fund is main target of the enterprise which
can be identified as:
Mission statement
Objectives
Strategies

Contd.
Mission statement:
To be the best community for financing the different organisations and serve through the various channel to provide feasibility
to the customers.
Objectives
On the basis of set mission, following objectives are set for Hungryhouse as mentioned below:
To be committed with the soundness and safety
To serve prompt, accurate and courteous services.
To make proper funding which is easy for the different association so that they can serve their best values whenever, wherever
and however they choose.
Strategies:
Variety of decisions are made regarding business operations of Hungryhouse including allocating fund, resources etc. In
addition to this, all the action plans which are to be included in project made for management of all activities effectively. Thus, for
improving quality services and business operations, strategies are prepared for project and its completion efficiently.

1.2 Factors considered for strategic planning
 these factors are required to be considered for Hungryhouse to allocate required fund and resources can be
understood as follows:
Cost
Time frame
Team building and work segmentation
Analysing sources of fund
Risks
Communication

Contd.
Cost:In this consideration, cost incurred on expenses for project are determined including purchasing
material, labour cost, additional overhead costs and so on.
Time frame: strategic planning is creating very effectively and systematically able for optimum utilization
of resources and fund. However, it is considered that using time frame method is effective for
formulating and implementing strategy for Hungryhouse and its effectiveness. On the basis of
analysing this factor, project can be succeed as well accomplishment of goals are possible to allocate
fund.
Team building and work segmentation: strategic planning is creating very effectively and systematically
able for optimum utilization of resources and fund. However, it is considered that using time frame
method is effective for formulating and implementing strategy for Hungryhouse and its effectiveness.
On the basis of analysing this factor, project can be succeed as well accomplishment of goals are
possible to allocate fund.

Contd.
Analysing sources of fund: In the given case scenario, it is considered that Hungryhouse can
allocate fund through analysing its sources. For example; granting loan from bank, using
personal saving, business venture etc.
Risk: all risks are required to be considered as well preparing back up plan for project and
accomplishment of its tasks.
Communication: Clarifying goals, objectives and job among workers is done which is able to
manage project's activities. Moreover, it remains helpful to create positive and effective
environment of the workplace.

1.3 Methods to develop strategic plans
Process for strategic plans as mentioned below:
 Identifying issue
 Setting goals
 Strategic planning
 Team building
Implementation of strategies
Performance evaluation

Contd.
Identifying the issue: At first, issue occurred in Hungryhouse is recognised as well reasons behind it. In
this phase, deep study of the issue is done including reasons, its negative impact and why it is needed to be
overcome is done.
Setting goals: After analysing the issue, targets are set to overcome the issue and planning for allocating
fund and resources is created. However, objectives set for Hungryhouse are like improving its quality
services, managing all business operations,
Strategic planning: It includes factors to be considered are as; cost incurred, consuming time, risks, team
work and its segmentation among workers and so on. Therefore, strategic planning is done effectively with
consideration on its factors for project and its completion.

Contd.
Team building and work segmentation: After formulating strategies, team is build up of co-workers of
Hungryhouse as work is segmented among them according to their abilities.
Implementation of strategies: In this process, all action plans are implemented according to prepared plans
and decisions.
Performance evaluation: comparison between expected and actual result is also done for accomplishing
tasks and effectiveness of the enterprise.

REFERENCE
Buckley, P.J. and et.al., 2016. The strategy and organization of international
business. Springer.
Chen, Y. and Jermias, J., 2014. Business strategy, executive compensation
and firm performance. Accounting & Finance. 63(1). pp.113-134.
Goerzen, A., Asmussen, C.G. and Nielsen, B.B., 2014. Global cities and
multinational enterprise location strategy. In Location of International
Business Activities. 7(6). pp.137-180.